Tata Power Share: The rise in Tata Power shares continues, the stock again made a new record, the expert gave this advice
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Tata Power Share Price: Investors have always had faith in Tata. The company’s shares have also not disappointed the investors. Shares of Tata Power of Tata Group continue to rise. Today, the company’s shares have made a new record. Shares of Tata Power opened at Rs 295 in the morning, which reached a record level of Rs 322.25 during trading, breaking the record made on Wednesday. At 1 pm, the company’s shares were trading at Rs 318.95 with a rise of 8.43 percent i.e. Rs 24.80. After the beginning of the new financial year 2023-24, there is a continuous upward trend in the shares of Tata Power. At the end of March 2023, the Tata Power share price came down to around ₹ 185 per share. Since then, it has been climbing to new highs on a regular basis. Tata Power share price opened at ₹281.55 per share on NSE today and touched a new high of ₹298.60, giving returns of over 60 per cent in FY24. According to stock market experts, Tata Power shares are on the rise due to strong order book and the expected focus of the Government of India on the power infrastructure sector in the upcoming Budget 2024. Shares of Tata Power have given a breakout at the level of ₹277 per share on the weekly chart. Pattern and it is expected to go towards ₹320 to ₹330 per level by the end of this week. Tata Group’s stock can reach the level of ₹ 340 per share by the end of this month.
What do experts say
On what is boosting Tata Power shares, Sandeep Pandey, Founder and Director, Basava Capital, said the Tata group company is attracting new orders on a regular basis. Recently, it has received the Bikaner-Neemrana Transmission Project to promote renewable energy extraction. The talk on Dalal Street is that the Indian government may continue to focus on the infrastructure sector, especially the railways and power infra segments. Even on this speculation, investor interest is being seen in the shares of Tata Power. On why the market expects an infra-focused budget in 2024, the Basava Capital expert said that after the BJP’s victory in three states of the Hindi belt, the market believes that the BJP has an advantage in the upcoming Lok Sabha elections in 2024. . In such a situation, if the Modi government gets a mandate for five more years, then the government policies are expected to continue. The market feels that the Indian government may continue to focus on the infrastructure sector, which will benefit the power, railways, roadways and banking sectors.
tata power share price target
Speaking on Tata Power share price chart, Ganesh Dongre, Senior Manager – Technical Research at Anand Rathi said that Tata Power shares are looking positive on weekly and monthly chart patterns. It has given a breakout at ₹277 per share level. Therefore, those who have this stock in their portfolio are advised to maintain stop loss at ₹275 per share level. By the end of this week, Tata Power shares are expected to reach the level of ₹320 per share. By the end of this month, Tata Power shares may touch the level of ₹330 to ₹340. Anand Rathi said one can buy Tata Power shares in ₹290 to ₹295 zone, while maintaining a stop loss of ₹275 for a weekly target of ₹305 to ₹310 and a monthly target of ₹330 to ₹340. Is.
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